[ BAILLIE GIFFORD ] including Peloton and Walmart , to offer a buy-now-pay-later option at the online checkout . “ In the financial world , the challenges are acquiring customers and the cost of acquiring customers relative to that value to you ,” says Slater . “ You need to bring on as many good customers as you can and then have a longer relationship with them .” Online , there are far more data points that sites can use to assess the user ’ s creditworthiness . Stripe , TransferWise and Affirm are all online-enabled businesses that are rapidly growing their share of the market , have modest capital requirements and are led by their founders . Affirm was founded by Max Levchin , the Ukrainian- American software engineer who cofounded PayPal . “ That combination of reputation and the respect he has earned , combined with the scale of the opportunity , makes it really interesting ,” Slater says . “ We look for robust , adaptable businesses , led by visionary people and with strong cultures , that can navigate whatever is thrown at them .”
Investments with exposure to overseas securities can be affected by changing stock market conditions and currency exchange rates . The trust has a significant exposure to unlisted investments ( private companies ). The trust ’ s risk could be increased as these assets may be more difficult to buy or sell , so changes in their prices may be greater .
This article does not constitute , and is not subject to the protections afforded to , independent research . Baillie Gifford and its staff may have dealt in the investments concerned . The views expressed are not statements of fact and should not be considered as advice or a recommendation to buy , sell or hold a particular investment .
Baillie Gifford & Co and Baillie Gifford & Co Limited is authorised and regulated by the Financial Conduct Authority ( FCA ). The investments trusts managed by Baillie Gifford & Co Limited are listed UK companies and are not authorised and regulated by the Financial Conduct Authority .
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